May 12, 2013, 8:00 AM EDT
Give credit to Chris Hansen and his Seattle group — as well as the Maloof family who want to sell the Kings to them — because they have not given up.
After the NBA’s relocation committee voted unanimously to reject the idea of moving the Sacramento Kings to Seattle — essentially killing the sale of the team to the Hansen’s Seattle group — most groups would have retreated to fight another day.
This group didn’t. First Hansen’s team– which incudes Microsoft CEO Steve Balmer, who may be taking a larger role with the group — upped its valuation and bid for the team by $75 million.
Instead, the cash-strapped Maloofs have made a “backup” agreement with the Hansen-Ballmer group to sell it 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise….
Sources said that new proposal also included a $115 million offer to owners as a relocation fee, which would amount to about $4 million per team. By comparison, in 2008 when the Oklahoma moved from Seattle, they paid a $30 million total fee to the other owners.
To consider these incredible new figures, the NBA relocation committee is planning to re-evaluate the Hansen-Ballmer offer and has scheduled another meeting ahead of next Tuesday’s full owners meeting in Dallas, sources said.
It’s an interesting plan… but it’s not going to work.
Well, unless the relocation committee changes its mind when it talks, but I wouldn’t bet on it. Their vote was always about what Sacramento did right in putting together a counter offer led by Silicon Valley billionaire Vivek Ranadive, professional leagues want cities that fight to keep their teams. It wasn’t about Seattle, other than they were good leverage.
The big problem with this “backup plan” is the majority of NBA owners have to approve the sale of even a minority of any team. And there is no way the owners are going to approve a sale of 20 percent of a team to a group clearly looking to move the team out of town when they have rejected that move already.
The Maloofs are under no legal obligation to sell their team to the Sacramento group. However, the family is reportedly cash strapped so they likely will have no choice eventually, especially if they can’t get a cash infusion from the Seattle group.
If you think what the Seattle group is trying will work, I think the penultimate paragraph of Windhost’s article sums up neatly why I would argue it will not.
Throughout this tedious process, the Maloofs and the Hansen-Ballmer group have worked without involving the league office and powerful NBA commissioner David Stern. Meanwhile, the Sacramento group and Mayor Kevin Johnson have worked with Stern every step of the way. That partnership seems to have helped the city and Ranadive get into favorable position with other owners.
And what David Stern wants….
Mar 26, 2015, 6:26 PM EDT
The NBA is the only major sports league featured.
Mar 26, 2015, 5:30 PM EDT
Mutombo had previously denied it.
Mar 26, 2015, 4:45 PM EDT
The Wizards have become stagnant in recent weeks.
Mar 26, 2015, 3:59 PM EDT
Woodson is an assistant with the Clippers now.
Mar 26, 2015, 3:15 PM EDT
Mar 26, 2015, 2:30 PM EDT
Timofey Mozgov in a backward jersey? Timofey Mozgov in a backward jersey
Mar 26, 2015, 1:45 PM EDT
Houston own’s Llull’s draft rights
Mar 26, 2015, 1:06 PM EDT
Jazz center makes it look easy
Mar 26, 2015, 12:13 PM EDT
Thunder guard again confrontational in post-game interview
Mar 26, 2015, 11:37 AM EDT
Jazz guard just suddenly went down
Mar 26, 2015, 11:02 AM EDT
Spurs big man apparently earned $100 by making 3-pointer against Thunder
Mar 26, 2015, 10:25 AM EDT
Referees miss blatant out of bounds call, clock momentarily stops before restarting
Mar 26, 2015, 9:47 AM EDT
The best matchup of the weekend may be Jakob Poeltl vs. Jahlil Okafor.
Mar 26, 2015, 9:08 AM EDT
That might be fair, but what about all Love’s reasons for being frustrated with Cavaliers?
Mar 26, 2015, 8:30 AM EDT
Mavericks owner reverses course
Mar 26, 2015, 8:00 AM EDT
Raptors crumble in fourth quarter during loss to Chicago
Mar 26, 2015, 2:29 AM EDT
Lionel Messi was hanging out at the most entertaining NBA game of the night.
Mar 26, 2015, 12:15 AM EDT
Not a good look
Mar 25, 2015, 11:30 PM EDT
Lakers win and hurt their draft position, Timberwolves win and help theirs
Mar 25, 2015, 10:45 PM EDT
Those are no slouches defending the rim against the Rockets star
- NBA Draft prospect matchups to watch in NCAA Tourament this weekend 1
- Report: LeBron James frustrated with Kevin Love for not fitting in 72
- Five Things We Learned in NBA Wednesday: Kevin Love seems to be fitting in just fine suddenly 4
- It’s official: Dwight Howard will return to Rockets’ lineup Wednesday 2
- Dwyane Wade on MVP race: “I would say James Harden” 27
- Report: Rockets’ Patrick Beverley has torn ligament in wrist, to decide course in 7-10 days 2
- Derrick Rose expects to be cleared for contact soon, says he feels no pain in right knee 9
- Five Things We Learned in NBA Tuesday: Warriors win Pacific Division, may win much more 20